Advisory Services Network LLC boosted its stake in shares of Dollar General Corp. (NYSE:DG) by 2,321.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,353 shares of the company’s stock after buying an additional 8,008 shares during the period. Advisory Services Network LLC’s holdings in Dollar General Corp. were worth $785,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Virginia Retirement System purchased a new stake in Dollar General Corp. during the first quarter valued at $2,686,000. IFP Advisors Inc increased its stake in Dollar General Corp. by 17.4% in the first quarter. IFP Advisors Inc now owns 3,649 shares of the company’s stock valued at $312,000 after buying an additional 542 shares during the last quarter. Ngam Advisors L.P. increased its stake in Dollar General Corp. by 39.0% in the first quarter. Ngam Advisors L.P. now owns 94,305 shares of the company’s stock valued at $8,073,000 after buying an additional 26,437 shares during the last quarter. Willingdon Wealth Management purchased a new stake in Dollar General Corp. during the first quarter valued at $472,000. Finally, FDO Partners LLC purchased a new stake in Dollar General Corp. during the first quarter valued at $259,000. Hedge funds and other institutional investors own 85.44% of the company’s stock.
Shares of Dollar General Corp. (NYSE:DG) traded down 0.41% during trading on Monday, hitting $69.70. The stock had a trading volume of 5,168,537 shares. The firm has a market cap of $19.64 billion, a price-to-earnings ratio of 16.30 and a beta of 0.74. The stock has a 50-day moving average of $77.22 and a 200 day moving average of $85.42. Dollar General Corp. has a 12-month low of $59.75 and a 12-month high of $96.88.
Dollar General Corp. (NYSE:DG) last released its earnings results on Thursday, August 25th. The company reported $1.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by $0.01. The business earned $5.39 billion during the quarter, compared to analyst estimates of $5.50 billion. Dollar General Corp. had a net margin of 5.86% and a return on equity of 22.95%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 earnings per share. On average, analysts predict that Dollar General Corp. will post $4.50 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 28th. Investors of record on Wednesday, September 14th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 12th. This represents a $1.00 annualized dividend and a yield of 1.43%. Dollar General Corp.’s payout ratio is currently 23.42%.
Several analysts recently weighed in on DG shares. JPMorgan Chase & Co. restated a “buy” rating on shares of Dollar General Corp. in a report on Friday, June 10th. Zacks Investment Research upgraded shares of Dollar General Corp. from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a report on Tuesday, July 5th. Morgan Stanley increased their price objective on Dollar General Corp. from $95.00 to $102.00 and gave the company an “overweight” rating in a research note on Monday, July 18th. Deutsche Bank AG downgraded Dollar General Corp. from a “buy” rating to a “hold” rating and increased their price objective for the company from $95.00 to $99.00 in a research note on Monday, August 1st. They noted that the move was a valuation call. Finally, Jefferies Group downgraded Dollar General Corp. from a “buy” rating to a “hold” rating and reduced their price objective for the company from $101.00 to $96.00 in a research note on Monday, August 15th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Dollar General Corp. currently has a consensus rating of “Hold” and an average target price of $90.13.
In other news, Director William C. Rhodes III purchased 5,000 shares of the company’s stock in a transaction on Friday, August 26th. The stock was bought at an average cost of $76.30 per share, for a total transaction of $381,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael M. Calbert purchased 13,000 shares of the company’s stock in a transaction on Tuesday, August 30th. The shares were purchased at an average price of $75.53 per share, with a total value of $981,890.00. The disclosure for this purchase can be found here. 0.22% of the stock is owned by corporate insiders.
About Dollar General Corp.
Dollar General Corporation is a discount retailer. The Company offers a selection of merchandise, including consumables, seasonal, home products and apparel. The Company’s consumables category includes paper and cleaning products (such as paper towels, bath tissue, and other home cleaning supplies); packaged food (such as cereals, spices, sugar and flour); perishables (such as milk, beer and wine); snacks (such as candy, cookies, and carbonated beverages); health and beauty (such as over-the-counter medicines and personal care products); pet (pet supplies and pet food), and tobacco products.
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